Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (1.1972). The closest resistance level is Tenkan-sen line (1.2225).
On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Kijun-sen line (1.1965). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.2222).
On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bearish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.1965) and Stop Loss at the level of Kijun-sen line (1.2222).
British Pound vs Swiss Franc
| Buy | Sell | Spread |
| 1.06166 | 1.06047 | 119 |
Scenario
| Time frame | Day's Range |
| Recommendations | SELL |
| Entry Point | 1.2169 |
| Take Profit | 1.1965 |
| Stop Loss | 1.2222 |
| Support levels | 1.1965, 1.1972, 1.2222, 1.2225 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
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